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KIBO MINING PLC - Issue of Kibo Shares to Geological Service Provider from Treasury Account

Release Date: 09/12/2016 09:30
Code(s): KBO     PDF:  
Wrap Text
Issue of Kibo Shares to Geological Service Provider from Treasury Account

Kibo Mining Plc (Incorporated in Ireland) 
(Registration Number: 451931)
(External registration number: 2011/007371/10) 
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO 
ISIN:IE00B97C0C31
("Kibo" or "the Company")

9th December 2016

               Issue of Kibo Shares to Geological Service Provider from Treasury Account

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused 
mineral exploration and development Company has today issued 218,221 Ordinary Shares (the 
"Fee Shares") in the capital of the Company to G&T Exploration Services Ltd ("G&T") from a 
Company held forfeited share treasury account ("Treasury Account"). The Fee Shares were issued   
in settlement of invoices from G&T for geological services to the Company during the period 
March to September 2016 and comprise a total amount of GBP 13,638.80. The Fee Shares were 
issued to G&T at a price of 6.25 pence per share.

The Fee Shares were issued to G&T from the 1,377,523 forfeited shares ("Forfeited Shares") 
remaining in a Company Treasury Account arising from the placing of the Company's former 
broker, Hume Capital, in administration in March 2015. The Forfeited Shares have already been 
admitted to trading on AIM so no further application for the Fee Shares to be admitted to AIM is 
now required. An application for the Fee Shares to be admitted to trading on the JSE AltX markets is 
required ("JSE Admission"), and pending approval for JSE Admission, trading on the JSE will 
commence on or around 14th December 2016. On completion of JSE Admission the Company's 
shares in issue will remain at 355,603,745 with a reduction in the number of Forfeited Shares in the 
Company's Treasury Account to 1,159,302.

Contacts



Louis Coetzee         +27 (0) 83 2606126        Kibo Mining           Chief  Executive Officer                                                                     
                                                                          plc

Andreas 
Lianos                     +27 (0) 83 4408365        River Group          Corporate Adviser and  Designated Adviser  on JSE


Jon Belliss               +44 (0) 207 382              Beaufort               Broker
                                   8300                        Securities  Limited


Oliver Morse             +61 8 9480 2500           RFC Ambrian        Nominated Adviser on  AIM
                                                                              Limited

Daniel Thole / Anna   +44 (0) 203 772            Bell Pottinger       Investor  and  Media Relations
              Legge                     2500


Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company 
is focused on exploration and development of mineral projects in Tanzania, and controls one of 
Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable operating 
environment for the mineral resource industry and Kibo Mining therein.

Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101 compliant 
defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the 
Mbeya Coal to Power Project ("MCPP"), previously called Rukwa Coal to Power Project 
("RCPP"), with an established management team that includes ABSA / Barclays as Financial 
Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power Pre- 
Feasibility Study for the Mbeya project with an integrated Bankable Feasibility Study report for 
the MCPP to be released in the near term. On 25 August 2016, Kibo signed an Agreement with 
China based EPC contractor SEPCO III granting it the right to become the sole bidder for the EPC 
contract to build the power plant component of the MCPP in exchange for SEPCO III refunding 
50% of the development costs incurred by Kibo to date on the project. Kibo has already received 
the first tranche of this funding in the amount of US$1.8 million on the 5th September 2016

The Company also has extensive gold focused interests including Lake Victoria Goldfields and 
Morogoro projects. At Lake Victoria, the Company has 100% owned projects with a 550,000 oz. 
JORC compliant gold Mineral Resource at the Imweru Project and a 168,000 oz. NI 43-101 
compliant gold Mineral Resource at the Lubando Project. The Company is currently undertaking 
a Definitive Feasibility Study on its Imweru Project.

Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for 
nickel, PGMs, gold and strategic metals including lithium.

Kibo Mining further holds the Pinewood (coal & uranium) project where the company has entered 
into a 50/50 Exploration Joint Venture with Metal Tiger plc.

Finally, the Company also holds the Morogoro (gold) project where the company has also entered 
into a 50/50 Exploration Joint Venture with Metal Tiger plc.

The Company's projects are located in the established and gold prolific Lake Victoria Goldfields, 
the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where 
the Government has prioritized infrastructural development attracting significant recent investment 
in coal and uranium. The Company has a positive working relationship with the Tanzanian 
government at local, regional and national levels and works hard to maintain positive relationships 
with all communities where company interests are held. The Company recognizes the potential to 
enhance the quality of life and opportunity for Tanzanian citizens through careful development of 
its projects.

Updates on the Company's activities are regularly posted on its website www.kibomining.com

Johannesburg
9th   December 2016
Corporate and Designated Adviser
River Group


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